Posted on 09/28/2022 10:53:42 AM PDT by quikstrike98
Well, we just had our weekly team meeting. I work for a very large corporation. We were just told that they will be recalculating retirement lump sum payments due to inflation, and depending how things are calculated, if we retire after Jan 1 of next year, we could lose up to 30% of our savings. You read that right, 30%.
Thanks Commierats!
They don’t need to come after you 401k if they just spend like crazy and devalue the dollar. It’s the same effect.
“My 401k is down 27% since this time last year.”
I just switch mine to guarantee income. It’s a small percentage gain but it will stop the bleeding and I will be able to keep what I and my work puts in it. I will retire in a couple of years (Biden will still be president or 25th) and I don’t have time for the stock market to turn around.
So, basically cutting my losses and using it as a savings account now (since very little gain).
Also, this is one of the few times since 1921 that bonds went down along with stocks by almost an equal percentage. If the fed keeps raising rates, bonds will continue to go down, killing this once valuable diversification option. Biden and the spendapalooza congress have really screwed us like no other.
I sold a few days prior to the 2020 election. I lost the increase during Biden, but lost nothing in this market downturn. I’m way ahead, but didn’t make as much as I could have. Been sitting in T-Bills since November 2020.
10% for the Big Guy?
Jane Long wrote: “The time to have moved to cash was months ago.”
I’ve been all in cash or very short duration bonds (real bonds, not bond funds) since April.
“10% for the Big Guy?”
It’s guaranteed that the animals inflicting this on our country will never miss a frigging meal.
With Biden in charge it’s like a stew bum performing open heart surgery.
I guess this does not effect Demoncrats, because the idiot was elected.
“Pretty much anybody with a lot of investment in stocks is getting hosed. F. Joe Biden is truly wrecking the economy.”
Anyone with any wealth ANYWHERE is getting crushed. You know you are being lead by an economic-incompetent when there is NOWHERE to hide!
This is what happens when collectivists think they know better than the free market and start tinkering with crap. Everyone starves and dies.
The Holodomor in Ukraine was not primarily intentional starvation of millions. It was just Commies thinking they knew how to farm better than farmers did
30%? No way , get ready for at least 50% and a long time before recovery. That’s what happens when the RATS are in charge.
And when do you declare the market is at its nadir? Market timing is more luck than insight.
“Ever get tired of telling everyone on FR how great you are..???”
Have we had a previous run-in?
Only 30%? You are quite the optimist!
Those with 401Ks or pensions controlled by the corps. will be devastated by inflation but also by the ESG portfolio managers who take an extra bit management fee but suboptimal returns because of wokeness.
Sorry to hear that. Inflation fans love to say “it could be worse”. But even 2% compounded inflation will cut your assets in half after a 35 year career. Inflation is never benign as the inflationists would have us believe. But its great for government as they can pay off debt with cheaper dollars.
Interest rates can effect payout and I received a similar company memorandum when our pension system was phased out and frozen for 2 years awaiting approval from feds.
I had to choose a mutual fund for my registered education accounts for the kids. Chose a boring bond fund. Pretty much no gains but at least its keeping its value.
Just your luck, keep working to pay your way!
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